The current upmove did not yet reach the target of 9000. However, is it already exhausted? Right now, the market price of BTCUSD is undecided and fluctuating around Pivot point .

Comment:
The big picture.
This chart with day candles is an overview, some kind of an aerial photo of a landscape. We can see that the current up move is a correction and not a new trend. As long as BTCUSD remains below the brown, bold dashed trendline, the downtrend is effective.

@venturetrade, I think so too. As long as the acsending brown, bold dashed trendline is unbroken, the downtrend remains intact. However, we have to recognize the things that changed. This upmove is much more powerful than all the upmoves since December 17, 2017 have been. It will reach its target at 9000. There, we have closely to observe, if it is able to break the acsending brown, bold dashed trendline. I expect a heavy battle Bulls against Bears at that level. If the bear trend remains intact, BTCUSD will go South towards target 1 at 5511.
If the trendline can be broken, Bitcoin market price will soar up to new heights.

@venturetrade, the price will reach the 9000 level. It is already very close. This time, it was not a bull trap. It was a consolidation which reached it's target. However, there is still a slight possibility that it might break the trendline. There is quite a lot of power in this upmove, even if I do not yet see a major trend reversal.